Summer Aid Application
The application for Summer financial aid is available on AccessPlus. Once a student signs into AccessPlus, the "Summer Aid App" is located on the "Student" tab, in the "Financial Aid" section.
Summer Financial Aid Information
To apply for financial aid for Summer 2014, a student must have a 2013-2014 FAFSA on file. Although the FAFSA can be completed until June 30, 2014, students are encouraged to submit it no later than May 15 so they can receive summer financial aid on time. Summer financial aid will be disbursed four to seven days prior to the beginning of each student's first summer class.
New in Summer 2014 – If you transferred to Iowa State University in fall 2013, spring 2014 or summer 2014, your financial aid eligibility may be limited based on aid received at your previous school. Your financial aid eligibility will be reviewed and posted in AccessPlus once your summer aid application has been processed. You will be notified via email when your summer financial aid award is available for review in AccessPlus, approximately April 10, 2014
Minimum Enrollment Requirements
Students must be enrolled in coursework that is considered at least half-time status to be eligible for financial aid. Below are the number of credits in which a student must be enrolled to be considered half-time.
Students enrolled for 4 weeks:
Undergraduate: 1.5 credits
Graduate: 2 credits if on assistantship, 1.5 credits if not on assistantship
Students enrolled for 6 weeks:
Undergraduate: 2.5 credits
Graduate: 2 credits if on assistantship, 2 credits if not on assistantship
Students enrolled for 8 weeks:
Undergraduate: 3 credits
Graduate: 2 credits if on assistantship, 2.5 credits if not on assistantship
Students enrolled for 10 weeks:
Undergraduate: 4 credits
Graduate: 2 credits if on assistantship, 3 credits if not on assistantship
Students enrolled for 12 weeks:
Undergraduate: 4.5 credits
Graduate: 2 credits if on assistantship, 3.5 credits if not on assistantship
If a student reduces their Summer credits after initial enrollment, their Summer aid may need to be reduced.
Sources of Summer Aid
There are three types of financial aid available for Summer 2014: Pell grants, work study and loans.
Pell Grants will be awarded to eligible students based on FAFSA information.
Students could be eligible for up to $2000 in work-study for the Summer 2014 semester. Eligible students can find a list of work-study jobs on AccessPlus.
Loan funds are available through the Stafford Loan, PLUS Loan, or private loan programs. Maximum loan amounts for the Federal Direct Stafford Loan Program, based in part on the cost of attendance, are listed below:
- Freshmen: $2,750 (Dependent) or $3,750 (Independent)
- Sophomores: $3,250 (Dependent) or $4,250 (Independent)
- Juniors/Seniors: $3,750 (Dependent) or $5,250 (Independent)
- Graduate Students: $10,250 (Dependent) or $10,250 (Independent)
The Financial Aid Office calculates students' eligibility and offers them aid packages through the Federal Pell Grant program, Work Study, Federal Direct Subsidized Stafford Loan (interest paid by the government), and Federal Direct Unsubsidized Stafford Loan (borrower pays the interest). Parents of students may also borrow for their student using the Federal Direct PLUS Loan program. Additionally, students or their parents may borrow through private loan programs if they have eligibility according to their cost of attendance.
Each Iowa State student will be sent an email after their summer aid has been processed. Students can then view their awards on AccessPlus.
Students and their parents should consider all of their costs to determine how much money will be needed for Summer attendance. The Registrar's Office lists Summer Tuition and Fees on its website.